Accounts Payable > Period-End Closing Overview

Before you perform period-end closing, take note of the following:

1.Before performing period-end closing, it is a sound practice that you perform backup procedures. This is to ensure that you have a copy of your company's data prior to closing. In case an error occurs during or after the closing process, you can easily restore from your company's data backup.

2.Generate the AP Transaction Journal Entries Report so that you can view the journal entries and the amounts that will be transferred to the different GL Account IDs.

3.The system does not transfer Accounts Payable/Purchase Order transactions to the General Ledger module if the General Ledger module is not activated or if you did not mark the Post Data to GL from Accounts Payable checkbox in the GL Module Setup function.

4.If you perform period-end closing and the procedure fails, before you perform another period-end closing you must:

•Restore the data backup made prior to the failed period-end closing process.

•Determine and resolve the cause of the failure to close the period.

Note: Contact your local AccountMate Solution Provider if you need assistance on performing the data backup procedure and/or resolving the cause of the failure to close the period.

To close the company’s current period, perform the following procedures:

1.Access the Period-End Closing function from the Routine Tasks menu to display the AP Period-End Closing function screen that shows the following information:

•Period that will be closed

•The current period’s beginning and ending dates

•GL Batch # field

2.Enter in the GL Batch # field, the batch number that you want to assign to the Accounts Payable/Purchase Order transactions that will be transferred to the General Ledger module. The GL Batch # field is enabled if you have selected the User Input (Numeric) option for JE Batch Numbering in the GL Module Setup function; otherwise, the system displays for your reference the next available batch number shown in the Next JE Batch # field of the GL Module Setup function.

3.When you are ready to proceed, click the Start button in the AP Period-End Closing function window to initiate the closing process.

4.When you click the Start button, the Period-End Closing window is displayed, which lists the functions it performs during closing. When the period-end closing process is completed, the system displays a window informing you of the period it has just closed and the new current period. Click the Ok button to acknowledge the message and close the message box.